Shares of General Mills (NYSE:GIS) jumped today after the company raised its guidance for Fiscal Year 2023. Looking forward, management expects revenue growth and adjusted EPS growth to be 10% and 7% to 8%, respectively. For reference, previous estimates called for revenue growth of 8% to 9% and adjusted EPS growth of 4% to 6%.
In addition, the company pointed to its Blue Buffalo brand as a potential growth catalyst, outlining plans for expanding in China and other international markets.
Overall, Wall Street analysts have a consensus price target of $84.73 on GIS stock, implying 5.12% upside potential, as indicated by the graphic above.